Not liquidated, still down $1M: the 25x ETH long sold 16,000 ETH into the low, then bought back 24 minutes later
Yesterday in one line: the longs paid this time. Hyperliquid liquidated $74.3M on October 12 across 10,048 wallets, about three times the day before, and $69.9M of it was longs. The day before, 96% of liquidations were shorts. BTC led with $20.3M, then NEAR at $9.2M and ETH at $6.4M. Taker volume doubled to $8.92B.
BTC fell 2.3% (83,730 → 81,812), ETH 3.6% (2,536 → 2,446), HYPE 6.6% to 80.89 and SOL 5.0%. NEAR gave back more than Saturday's gain (−13.7%), and STRK fell 31%. Open interest across Hyperliquid's main perps dropped 7.6% to $11.55B. Big takers sold: trades of $100K or more net-sold $42.7M of ETH (22% of big-trade volume) and $35.0M of BTC. By 02:00 UTC both had bounced, BTC to 82,390 and ETH to 2,462.
Yesterday's question, answered
We asked which line would get hit first: $38.9M of 40x BTC shorts liquidated around 84,970, or the 25x ETH long liquidated at 2,507.
Neither got liquidated. BTC never got close; its high was 83,601. The shorts took their money and left. 0x4b62…57ca cut its BTC short from 325 to 47 BTC and moved $450K out of the account. 0x004e…1bb8 closed the whole short for a $27.6K profit and is now sitting in cash: $445K in USDC.
ETH did go through 2,507. But the long wasn't there anymore. It had been selling for hours.
Not liquidated. Sold all the way down.
Yesterday morning 0x020c…5872 held 19,575 ETH ($50M) at 25x, entry about 2,545. It had spent two days adding.
From 11:20 UTC it started selling, a few hundred ETH at a time, every time the price stepped down. The selling got heavier as ETH fell: 2,350 ETH at 21:40, 2,200 at 23:00, 1,900 at midnight. In total it sold 16,115 ETH, about $40M, at an average of 2,484. Realized loss: $999K, plus $11.8K in fees. Not one of those fills was a liquidation. It cut every piece itself.
Its last sale was at 00:52 UTC, at 2,410.6. ETH's low of the whole move was 2,410.1.
Twenty-four minutes later, at 01:16, it started buying again. 850 ETH between 2,440 and 2,463. It now holds 4,150 ETH ($10.2M), still at 25x, about $409K of equity, and an unrealized loss of $267K. Liquidation is at 2,412, 2.0% below.
The day before, it bought every dip. Yesterday, it sold every dip, and the last one was the bottom.
The 40x trader flipped again
0xf15d…ddf9, the trader who closed a 40x BTC short at a $338K loss on Saturday and flipped long, closed that 40x long yesterday at 82,730. Its liquidation price was 82,710. It got out $20 above the line, for an $80K loss.
Twenty minutes later it was short again at 40x: 37 BTC ($3.1M) from 82,853. That is its third change of direction in two days. This one is working so far: up $17K, liquidation 83,908 (+1.8%).
What the timeline is saying
US spot Bitcoin ETFs had $681M of net outflows last week, ending three weeks of inflows, and BTC came into Monday already down 3.1% on the week. NEAR, Saturday's best performer, became Monday's biggest liquidation: one wallet, 0xb4a3…9210, lost a $2.6M NEAR long at 5.29, and NEAR longs lost $9.1M in all.
Whale moves
The $211M cliff on ETH. The reloaded ETH whales from Oct 9, 0x77dd…e0e9 and 0x0392…d7d9, still hold about 79,100 ETH ($195M) long, now $10.1M underwater combined. Their liquidation prices are 2,288 and 2,300. 0x0c4a…1b19 adds a $16.7M 25x ETH long at 2,281. That is $211M of ETH longs liquidated between 2,281 and 2,300, 6.6–7.4% below the price.
The same wallet is also long BTC at 40x. 0x0c4a holds 302 BTC ($24.9M), entry 84,177, liquidation 77,512 (−5.9%).
The HYPE whale is fine. 0x082e…ca88 holds 1.38M HYPE ($113M) at 5x, entry 38.68, up $59.6M. HYPE fell 6.6% yesterday. Its liquidation is 74.50, 9% below.
Shorts took profit. 0x8853…8249 closed its whole $25.2M BTC short at an average of 83,094, and 0xc3ed…00dd closed $16.6M at 82,763.
From our Telegram channel yesterday: a 5.3x BTC short pushed at $83,940 (event 1058) is up 9.7% on margin.
Levels to watch
BTC (≈82,390)
- Above: 83,908: 0xf15d's new 40x short, $3.1M (+1.8%). 84,500–85,000: $9.6M (+2.5%). 86,500–87,000: $18.5M, mostly one $16.4M short (+5%).
- Below: 80,500–81,000: $17.4M, mostly one $13.3M long (−2.3%). 77,500: 0x0c4a's 40x long, $24.9M (−5.9%). 76,500–77,000: $20.8M (−7.2%).
ETH (≈2,462)
- Below: 2,412: what's left of the 25x long, $10.2M (−2.0%). 2,377: a $28.3M 12x long (−3.5%). 2,281–2,300: the $211M cliff (−6.6% to −7.4%).
- Above: nothing tracked within 5%. 2,630–2,640: one $5.5M short (+6.8%).
HYPE (≈81.85)
- Nothing tracked within 5% either side. Below: 76.00–76.50: $17.2M (−7%), then 74.50: the $113M whale (−9%).
Live maps with every tracked wallet: BTC · ETH · HYPE. To get a Telegram alert when any of these wallets moves, tap 🔔 next to the title on its wallet page.
Data: Hyperliquid on-chain fills, liquidations and positions, compiled by CryptoAnimon. Positions and prices as of Oct 13, 02:00 UTC; "yesterday" covers Oct 12 UTC.
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